Barclays
International

Barclays International says that their clients can benefit from foreign exchange, discretionary portfolio management, mortgage advice and more.

Barclays International has four primary services to offer:

1. Banking:
   Barclays banking services range from international bank accounts and payments to foreign exchange. They claim to provide clients with access to services that help them manage their finances anywhere in the world.
2. Savings:
   Barclays has a range of saving options for clients, from instant access accounts to fixed term deposits. International reserve account, treasury deposits, notice deposit accounts and children's savings account.
3. Investments:
   Their investment offering includes tailored solutions, worldwide expertise, dedicated management and stable financial jurisdictions.
4. Mortgages:
   Barclays provides you with options that help you choose from a range of mortgages with the on-going support of their mortgage advisers, who can guide you through buying a property in the UK.

Barclays key banking offerings include:

1. International bank account: 
   
   In order to open an international bank account, you need to be 18 years old or older and have a minimum balance of £25,000 (or currency equivalent) to deposit and maintain across your Barclays' international banking accounts. This threshold may be increased depending on jurisdiction or other factors.
   
   - The international bank account will not have any monthly fees. However, if your average balance in savings and/or investments falls below £25,000 (or  currency equivalent) for two consecutive months, you’ll be charged a monthly fee of £40.
   
   - Barclays says that you are responsible for the management of your tax and legal affairs, including making any applicable filings, payments and compliance with any applicable regulations (in your location).
   
   - For Barclays Bank UK Plc clients, the international bank account is called the premier world account.
   
   - Arranged overdraft facilities are not available on the premier world account for Barclays' UK clients.
   
   
2. International payments: 
   
   - Barclays' international payments service allows you to send money to 90 countries in 60 different currencies.
   
   - Single Euro Payments Area (SEPA) credit transfer allows you make payments in Euros to EU countries and their territories.
   
   - Barclays says that funds should be in the recipient’s account the next working day if they’re sent by 3pm.
   
   - You can send up to £100,000 (or currency equivalent) abroad, using Barclays' secure online payment service, available 24/7.
   
   Additionally, you can also make international payments over the phone, via post or by visiting them in selected branches.
   
   
3. Foreign exchange: 
   
   This facility provided by Barclays is supposed to allow you to move your money instantly and internationally between your accounts and make payments abroad.
   
   - This can be executed in up to 60 currencies. Favourable rates are given based on how often you convert.
   
   - If you're moving money between your accounts or making international payments, Barclays claims that they let you convert currencies at your convenience across several channels, online and over the phone.
   
   - You can also move your money instantly and internationally between your accounts or to make payments. Barclays' FX services claim to help you manage your wealth and balance the fluctuations in currencies.

Additionally, Barclays offers a service called international mortgages and an international savings account which are curated for international clients and are made available in a range of currencies.

Barclays International also offers a few digital services such as:

• Barclays online banking
• The Barclays app*
• Online investment service

*More in the FAQs section.

NOTE:

• Whilst the service is comprehensive, giving clients all the tools they need to manage their money internationally - banks tend to take big commissions out of FX transactions, and we believe there are better alternatives when you need to change money.
• Barclays International maintains that they will provide access to some of the world’s leading fund managers. However, it is important to note that banks tend to sell their own products that often have high charging structures and deliver mediocre performance.
• We would recommend you to steer clear of their structured notes.
• You can learn more about Barclays' international bank account fees here.
• We would highly recommend reading the 'expert verdict' section of this review to make an informed decision.

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